Nigerian companies boost UK economy with jobs, multimillion investments

Nigerian companies, including LemFi, Moniepoint and other financial institutions, are set to create hundreds of jobs across the United Kingdom, backed by multimillion-pound investments.

This is according to a press release published by the UK Department for Business and Trade on Tuesday,

This comes as President Bola Ahmed Tinubu’s two-day state visit to the UK, at Windsor Castle from Wednesday to Thursday.

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What the UK government said

According to the UK government, among the key developments, Zenith Bank has opened a new branch in Manchester with the capacity to create up to 30 direct jobs, while also exploring a potential London Stock Exchange listing by 2027.

• Fidelity Bank plans to double its UK workforce in 2026 and position London as its global hub
• FCMB has selected the UK as the first international destination for its cross-border payments platform. This makes it a minimum of seven Nigerian banks are now operating in the UK, supporting about 1,000 jobs in total.
• In the fintech space, LemFi plans to invest £100 million over five years as it establishes London as its global headquarters
• Moniepoint aims to grow its London-based team to 100 employees by 2026
• Kuda Bank is expanding its UK operations as a base for global growth
• Nigeria’s creative sector is also driving new investments, EbonyLife plans to launch EbonyLife Place London, creating up to 40 jobs and expanding African storytelling in the UK.

In addition, partnerships between UK and Nigerian institutions are expanding education and research collaboration, particularly in areas such as artificial intelligence and digital technology.

**More details **

Business and Trade Secretary Peter Kyle said the growing partnership is delivering economic benefits for both countries.

Deputy Prime Minister David Lammy added that the collaboration is opening new pathways for growth.

• _“We are reducing barriers, creating jobs and opening new pathways for growth… the cultural and commercial bonds between our nations are thriving.” _

The government said the investments are being driven by its trade and industrial strategies, alongside commitments under the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP).

Backstory

The developments come following the announcement in February 2026 that President Bola Ahmed Tinubu would embark on a state visit to the United Kingdom, marking Nigeria’s first such visit in 37 years.

The British Royal Family disclosed this in a statement on February 7, noting that Tinubu and First Lady Oluremi Tinubu would be hosted by King Charles III at Windsor Castle from March 18 to 19. The last Nigerian state visit to the UK was in 1989.

What you should know

Bilateral trade between Nigeria and the United Kingdom has risen steadily in recent years, reaching about £8.1 billion annually, up from £7 billion in May 2024 and £7.9 billion as of September 2025.

• According to the British High Commissioner to Nigeria, Richard Montgomery, the growth has been driven by post-Brexit trade policies, which have allowed the UK to deepen economic relations with countries like Nigeria outside the European Union.
• He noted that the UK–Nigeria Enhanced Trade and Investment Partnership (ETIP) has played a key role in boosting trade by removing barriers and promoting collaboration across priority sectors such as financial services, fintech, artificial intelligence, and digital platforms.

Beyond trade, the relationship has expanded through migration and investment, with the Nigerian diaspora in the UK growing from about 300,000 in 2021 to over 550,000 in 2025.

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